09-Jun-2022 | Zion Market Research
The global microwavable foods market was valued at $150 million in 2021 and is likely to attain a value of $210 million by the end of 2028. The market is likely to expand with a compound rate of 5.7% during the forecast period. The report is focused on the growth drivers, restraints, challenges, and opportunities in the global market. It also emphasizes the geographical and competitive market landscape in the global market.
Microwavable food items are food items that can be easily heated or cooked in a microwave without losing their nutrition factor. These are generally canned & portable food items. They are created to last for longer times while sealed, however, once the seals are open, it is recommended to cook them as soon as possible. Microwavable food items come with an expiry date mentioned on the outer packaging and should not be consumed past the expiry date. The global microwavable food market is a growing market owing to the easy & less time-consuming cooking process.
Covid-19 had a dual effect on the global market. On one side the supply chain of the products was affected negatively but once the transport restrictions were lifted, the overall demand for microwavable canned food items increased owing to the major chunk of the world population staying at home.
Heavy investments by manufacturers in educating the masses about the nutritional benefits of microwavable food items along with intense advertising and marketing are expected to propel the global microwavable foods market growth during the forecast period. Growing hectic and time-consuming work schedules or lifestyles of the world population are anticipated to assist in the global market growth. An increase in the number of fast-food chains which use microwavable food items is a contributing factor to the global market growth. The rising number of cloud kitchens that prepare the food items in advance & heat them depending on the orders is also expected to assist in the global market growth.
However, the increase in the number of medical patients and rising awareness amongst the population for their health is anticipated to restrain the global market growth. Less investment in developing better freezing technology is expected to restrict the global market growth.
The global microwavable foods market can be segmented into product, packaging technology, distribution channel, and region. By product, the market can be segmented into frozen, chilled, and shelf-stable microwavable foods. By packaging technology, the market can be segmented into new cook bag techniques, new tray lidding methods, and patterned susceptors suspectors technology. By distribution channel, the market can be segmented into online stores, supermarkets, and others.
North America & Asia-Pacific are expected to generate the highest global microwavable foods market revenue during the forecast period owing to the increased number of nuclear families along with students & working professionals relocating to different places. The number of fast-food retailers is also significantly rising in these regions because of changing consumer preferences. Upgradation in the standard of living is a contributing factor for these regions to lead the global market.
The Middle East and Europe are expected to register higher CAGR during the forecast period owing to increasing tourism and the opening of multiple restaurants and cafes to leverage the tourism industry.
Africa is expected to register a slow CAGR during the forecast period because of the weak spending capacity of the population on products that are not absolutely necessary.
Some of the significant players in the global microwavable foods market include Pinnacle Foods Group LLC, Bellisio Foods Inc., Beech-Nut Nutrition Corporation, Campbell Soup Company, Unilever Plc, ConAgra Foods, Inc., General Mills Inc., Ajinomoto Windsor, Inc., Kellogg Company, Nestle SA, Pinnacle Food Inc., The Kraft Heinz Company, and McCain Foods.
Rich Products Corporation, in April 2020, introduced 'Time Outs', microwavable single-serve snacks. The frozen product portfolio includes snacks, appetizers, and meals prepared with plant-based meat and ingredients.
Browse the full “Microwavable Foods Market By Product (Shelf Stable Microwavable Food, Chilled Food, And Frozen Food), By Packaging Technology (Patterned Susceptors Technology, New Tray-Lidding Methods, And New Cook Bag Technique), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, And Online Sales Channel), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/microwavable-foods-market
Global microwavable foods market is segmented as follows:
By Packaging Technology
By Distribution Channel
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